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Mogo Announces Fourth Quarter & Full-Year 2017 Financial Results Highlighted by 96% Growth in Subscription and Fee Based Revenue
Mogo Announces Fourth Quarter & Full-Year 2017 Financial Results Highlighted by 96% Gr...
About this update from Orion Digital Corp.
[{"type":"text","content":"\n\n\n\nMogo Announces Fourth Quarter & Full-Year 2017 Financial Results Highlighted by 96% Growth in Subscription and Fee Based Revenue\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\nMogo Announces Fourth Quarter & Full-Year 2017 Financial Results Highlighted by 96% Growth in Subscription and Fee Based Revenue\nCanada NewsWire\nVANCOUVER, March 6, 2018\n\n\n\nSubscription and fee based revenue now represents 31% of total revenue \n\nRecord annual gross profit margin of 67%, up from 62% last year \n\nCompany launches MogoProtect and prepares for launch of MogoCrypto\n\n\n\nVANCOUVER, March 6, 2018 /CNW/ - Mogo Finance Technology Inc. (TSX:MOGO)(OTCQX: MOGOF), one of Canada's leading financial technology companies, today announced its financial and operational results for the fourth quarter and full year ended December 31, 2017. \n\n\"It was a strong fourth quarter for Mogo both operationally and financially, highlighted by an almost doubling of subscription and fee based revenue, which clearly underscores our continued success as a multi-product company built on a leading, mobile-first digital platform,\" said David Feller, Mogo's Founder and CEO. \"We continued to execute on our mission of empowering consumers with simple solutions to improve their financial health with the introduction of three new products in 2017, including MogoProtect in the fourth quarter, and we are advancing our MogoCrypto product toward launch this quarter, which will represent our sixth product. We are also encouraged by the early results of our efforts to cross-sell and monetize new products through our fast-growing member base, including through our premium account features.  Our model is simple, the more we help our members improve their financial health, the more we grow our revenue.\"\n\n\"In the fourth quarter, our subscription and fee based revenue increased 96% to $4.1 million as compared to the fourth quarter of 2016.  This was the fourth sequential quarter of accelerating year-over-year revenue growth, beginning with 28% growth in th...